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Image Credit: Bloomberg Quint

India's Forex Reserves Slip By $3 Billion To $699.74 Billion

  • India's foreign exchange reserves fell to $699.74 billion, a decrease of $3 billion in the week ending July 4.
  • Foreign currency assets, a significant part of the reserves, dropped by $3.53 billion to $591.28 billion during the same week.
  • Gold reserves, however, saw an increase of $0.3 billion to reach $84.84 billion.
  • Despite the decline, India remains the fourth-largest holder of foreign exchange reserves globally, behind China, Japan, and Switzerland.

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